Theory:

Media as Fourth pillar of Democracy:
The four pillars of democracy are the Legislature, Executive, Judiciary, and Media. Media increases the transparency in the working of the above three.  The Media acts as a watchdog of public interest in a democracy. It plays a vital role in a democracy and ensures that all people living in far off areas of the country are informed about national and international events.
 
Importance of the Media:
Media is a fundamental entity on the earth. It is a mirror that explains various social, political and economic activities around us. The following points explain the importance of media.
 
1. Gives us immense knowledge & transmits information:
Media keeps the people awakened and has become one of the important instruments of social change. In addition to reporting day to day happenings, media also exposes the strength and weakness of the government. The media must provide a balanced report on any matters.
 
2. Raises voice against social evils: Media plays a constructive role in society by raising voices against various social issues. It fights against the socio-political evils and injustice in our society while bringing empowerment to the masses and facilitating development.
Example:
Social evils like dowry, female foeticide, gender discrimination, etc.
3. Educates society: One of the most important roles of media is to educate society. Media exposes problems like poverty, illiteracy, social backwardness, etc., and educates people on the same. It also educates people about their rights and duties.
Reference:
https://www.importantindia.com/24009/meaning-and-importance-of-media